Marketing channels Essay

Analyze the Supply and Demand side gaps for LA before the alliance. 2) Based on your analysis in 1), which elements of the distribution channel are ineffective at Laura Ashley before the alliance? 3) Evaluate the decision to enter a strategic alliance from the perspective of both Laura Ashley and Federal Express. What are the real opportunities and risks of this approach? 4) How likely is it that the partnership will succeed over the long term? What will it take for both companies to make it successful? Minolta Case 1) What are the challenges facing Minolta? 2) What do you think of Mr Izuhara’s proposed solution to the grey export problem? 3) Discuss the â€Å"tactical changes† proposed by Mr Kusumoto by considering the implications of each proposed changes for Minolta’s marketing strategy and competitive position. 4) Do you see any other alternatives for solving the grey export problem? HP consumer products Case 1) Describe HP’s current distribution system. 2) What functions and channel flows do the retailers accomplish for HP? 3) What are the benefits which a consumer might obtain via an HP presence on the Internet and the benefits to HP – in particular; is it cheaper to sell on-line? 4) What kind of on-line presence do you think HP should have? Why? Supercuts Case 1) What alternatives does Dave have for resolving the problem with Kevin and Wendy? What are the advantages and disadvantages of each of these alternatives? How would you implement your choice? 2) Analyze the risks and returns of owning a Supercuts franchise in one location. 3) Assuming Dave continues granting new franchises, should he look primarily for large franchisees or smaller ones? For example, should he prefer three franchisees, each with four locations over one twelve-store franchisee for a given area, assuming comparable financial credentials? Why? 4) Assume for discussion purposes that owning locations versus franchising them constitutes a reasonably attractive use of capital. If that capital is available, should Dave move in this strategic direction? Why or why not?

Psychoanalytic Critique on the Black Swan

How does the main character deal with her id ego and superego? Which part of the subconscious seems to dominate? I believe Ninas Id is the dominant because she constantly in the movie is doing what she can to satisfy what she wants she does what she’s told to do to get it and be able to do it correctly. How does the relationship she has with other people? Does there seem to be a childhood trauma or a childhood experience that has occurred?She isn’t really able to have relationships with other people she doesn’t even have a good relationship with her mom I feel like she’s still some sort of child on the inside like a teen rebelling. I think this is probably because she didn’t really communicate with her mom as a child or have a dad around. What in the protagonist’s past has triggered her to be the way she is in her relationships now? I think Nina was probably isolated as a child that’s why she doesn’t really have that many relati onships as an adult.She still lives with her mom, which shows she doesn’t really know how to deal with regular daily things on her own. What does the protagonist dream about? What is the first thing she thinks about when she wakes up? What does this tell us about her? She had a sexual dream where she was receiving from lily. She believed it actually happened until lily tells her she left right after and didn’t stay the night. I think this shows that she was receiving love in a different way then she receives it from her mom since she doest really have any relationships like a boyfriend and friendships.What core issues does the character have and where do you think they come from? I think these issues come from her childhood she obviously grew up without a dad and her mom shows how overprotecting she is with her. She does have a habit of scratching herself when something seems to overwhelm her. What are the fears of our protagonist and why? The fears Nina has are not be ing perfect and not playing the role she was given. And she fought for. She always wanted everything perfect.I think she’s probably scared of herself as well since she scratches her self without realizing it most of the times. What are her desires and how do they affect her subconscious? I think her desires are to be the best at ballet and being the swan queen she wants to finish on top beating everyone else. Well throughout the movie this was what she wanted and she didn’t want lily to take that from her mainly. Which she thought was better and maybe she wanted to be more like lily since she saw how carefree she was unlike her.How does the characters sexuality affect how people view her and why? Since Nina was a virgin she was viewed as innocent the goody goody ballerina. After her sexual dream I viewed her a little different as in she wanted to receive love in a different way then her mom she wanted to maybe break out of the shell she was in. What types of defense me chanisms do they use and what are they trying to repress? She constantly has to cut her nails because she scratches herself I think she uses this as a defense mechanism to avoid having herself having to deal with the other problems around her.

Review key debates and thinkers on Globalisation Essay

Review key debates and thinkers on Globalisation - Essay Example 6 Skeptical Approach†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦... 8 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 9 Introduction Globalization was considered as the wave of the future when it first appeared to unite countries into one global economy for the mutual benefits, which presumed global integration and interdependence in the technological, economic, social, cultural, ecological and political spheres. The core intention of promoting globalization among countries had positive purposes and tasks to make the world more mature, connected and interdependent. The supporters of globalization influenced many government policy makers, economists, businessmen and journ alists into believing that globalization is inevitable and everyone involved should do their best to smooth the process of financial, political and cultural development and integration (Bridges, 2007; Stiglitz, 2006). However, financial and corporate globalization overcame the globalization of production and cultural development. ... t paper will determine the meanings of global economy and globalization in addition to discussing and comparing different approaches to globalization, mainly skeptical and hyperglobalist. By better understanding the map of rhetorical formations in widely-read texts regarding globalization, it might be possible to understand better the concerns and intentions of these opposite viewpoints on globalization and recent global changes. Understanding of Global Economy and Globalization Global Economy Global economy is related to an integrated world economy with unified market of unrestricted and free movement of goods, services and labor produced and provided across the world, which becomes increasingly interconnected (Rao, 1998). Domestic producers have an opportunity to expand and raise capacity according to global demands while domestic consumers are now able to choose from a wide variety of imported goods. One of the main purposes of a global economy is to rationalize prices of all the products globally. In the past, restrictions of World Trade Organization (WTO) prevented such an opportunity, but with the recent reduction in the level of tariffs and quotas free flow of goods and services between the developed and the developing countries has become a distinct possibility (Plane, 2005). With the WTO, World Bank and IMF acting as institutional conduits for economic and political policy dictation, the globalizing states and corporations are now able to bypass most states forcing them into compliance with rules and regulations they have had no part in making, and making governments abandon long-held traditions of economy and society. As a result of global economy and globalization, transnational companies or multinational companies (MNCs) emerged leading to a shifting of

Industrial Revolution Essay Example | Topics and Well Written Essays - 250 words - 1

Industrial Revolution - Essay Example d politics, thereby stimulating varied other disempowered and marginalized sections of the society to strive for empowerment and a fair share in the national income. Capital emerged as the pivotal factor of production. This led to a greater polarization of opinion on both sides that are the labor and the capitalists, thereby both sections getting more organized and politicized. One negative thing about Industrial Revolution was that it envisaged earth as an external resource to serve as a fodder for the industrial engine of growth. In the long run it not only resulted in an irreversible depletion of natural resources and the commensurate pollution, but led to the contemporary challenges like global warming. There is no denying the fact that the map set by Industrial Revolution is not absolutely relevant in the current times marked by the emergence of new priorities like sustainable development and corporate social

HRM Responses to a Changing Environment Essay Example | Topics and Well Written Essays - 4250 words

HRM Responses to a Changing Environment - Essay Example In the UK, the company also has a stake in Pret A Manger (www.McDonalds.co.uk). The UK is unusual in having only a relatively small proportion of restaurants as franchise operations. The first English restaurant was built in Woolwich in 1974 and was a product of a joint venture between Bob Rhea (a franchisee from Ohio) and McDonald's. In 1977, this had increased to thirty restaurants, and by 1982 this had reached 200 restaurants. In 1986, McDonald's bought out Rhea's 45% share for $38 million. Since that time, however, McDonald's UK has only slowly franchised parts of the operation. In 1993, this stood at only 11%, but by 1996 over 20% were franchise operations. McDonald's UK management state that they expect to have closer to 30% being franchises by early in 2001 (Royle, 2000, p. 32). According to the Euromonitor report, the company was operating 1,250 McDonald's restaurants throughout the country. 2003 saw the company introduce a revitalisation strategy, operating on both a global and local level. For McDonald's in the UK, the issue is no longer simply opening the right type of restaurant in the right location, but also engaging with real issues concerning the local community. The McDonald's business model is slightly different from that of most other fast food chains. In addition to ordinary franchise fees, supplies and percentage of sales, McDonald's also collects rent. As a condition of the franchise agreement, McDonald's owns most properties. Since rent is a fee that is not linked to sales, this practice allows McDonald's more control over its franchisees (Rumbelow, 1 February 2001). As the world's largest fast food company, McDonald's was the target of criticism on many grounds over the review period. It has been accused of the

Research PaperCultural Intersections Essay Example | Topics and Well Written Essays - 1750 words

Research PaperCultural Intersections - Essay Example Since the process if bettering oneself is just that - a choice, when the black sub group chooses to pursue another cultural path within the American culture, white America often shows little tolerance or understanding. For black America, the melting pot and land of opportunity images have never been allowed to become the cultural icons with which white American's co closely identify. The black experience of American culture did not begin with voluntary immigration in the pursuit of a better life. Black American's were forcibly taken from their homes and brought to America as slaves. Black American's, while no longer living as slaves, and living in a free country, still struggle to establish a distinctly American and successful identity. Their path was forced, not voluntary. Their emigration was from freedom to bondage, while white Americans, to a great extent, left religious and social bondage to establish freedom. From these two different paradigms, two different American cultures have emerged. At the seam where these cultures meet, friction and misunderstanding are the norm. As a result, a homogeneous America currently does not exist for either group, and both sub-cultures tend to carry a chip o n their shoulder, blaming the other as the source of the discord. For both of these cultures, the idea of choice should be taken into consideration so that the individuals can begin to move past their individual ideas of how America 'should' look. White Americans and black Americans each have made choices on how to perceive their country and culture. Each has come to an individual understanding based on their choices and personal experiences. Unfortunately, at the intersection of these two paradigms, the individuals often try to justify their perceptions as something bigger than choice. White America lifts up their own experience as 'how and what America is.' America is the melting pot, the land of opportunity, and any individual or people group that does not perceive it similarly is understood as attacking America. Black America similarly can understand the country as an oppressive culture, bent on taking from them their individuality and uniqueness as it tries to squeeze them into the white cultural mold. Working under this perception, black Ame ricans can easily turn aggressively hostile to the white paradigm, which leads to conflict, and disunity. Reike and Sillars, in their work on critical decision making (1993) address this phenomenon by accurately identifying it as the product of choice. They say that our individual belief systems are made up of two components, beliefs and values. Individuals settle on core values as both an individual and as a larger group. Often these values within a culture are similar, even though they are worked out in different ways. Americans as a group tend to hold the value of independence as a universal value. Individuality is also a shared cultural value. According to Reike and Sillars, built around these core values are individual belief systems which shape and affect our understandings of our values. Belief systems are most often learned behaviors. Belief systems are based on what is important to us, our values, but they also reflect our personal experiences, and our belief systems also shape our actions. We will rarely make decisions or choose a course of action which is in violation to our belief system, even if the belief system inaccurately reflects

Japan's Battered Men Suffer abuse in Silence Research Paper

Japan's Battered Men Suffer abuse in Silence - Research Paper Example The study also indicated that, the reported cases of men were however; lower in number as compared to those of women. The research showed that, despite the indifference in the number of reports, both men and women were similarly agonizing on the issue of marital abuse. Police and hospital surveys carried out showed percentages of men and women battered during a certain period as being 82% and 96% respectively (Cook, 2009, P. 3). Evidently, the gap between these two statistics is very small as compared to the case reported by the media. This was an indication that not all the battery cases involving men had been reported. The law in many countries differentiates battery from assault though both are considered to be crimes. Statistics taken also showed that the percentage representing women cases also include many assault cases. Thus, while women will go ahead and report assault cases to the authorities, very few men, if not none, were noted to report assault cases. In fact, most of th e cases reported by men were fatal and most involved injuries. Most men therefore, will prefer to suffer in silence, than to report their cases to the authorities. Due to lack of reporting, the male spousal abuse has been being disregarded, ignored or downplayed (Cook, 2009, P. 17). Background In Japan, the issue of wife battering is so rampant and of concern in the whole country. With recent findings showing that approximately 33% of married women in Japan suffered from domestic violence, the findings did not give a percentage of the men suffering from the same issue. Again, the men in Japan too do not report their abuse cases and hence, the authorities are likely to turn a blind eye to such cases (Leeder, 2003). The background of abuse of men in Japan was mainly reported to be the fact that most of these men did not control their partners and were therefore, likely to be controlled in turn. The issue was also reported to be on the increase due to the fact that the English press ha s been ignoring it a great deal. A private research once conducted showed that while the press was reporting 33% of the married women involved in spousal violence, it did not report the 20% number of men who suffered in their marriages. While the same press was reporting 14% of women who were coerced into sexual relationships, it did not give the 4% of men who were bullied to engage into the same by women. The English press also finalized its report by indicating that 40% of the Japanese women still suffered from marital violence in silence. The report on the other hand, did not account for the 76% of men who had suffered in silence too, despite their percentage being higher. The neglect of men’s abuse cases has therefore, also served as a key root of the increase in their suffering. With no one being aware of their agony, there has been no action being taken against those who cause this and thus, the issue continues to rise with time (Cook, 2009, P. 16). Current State of Aff airs The current Japan however, has had its eyes opened to many hidden incidences that take place in the society without the knowledge of the public. A report by the Japan Times newspaper indicated the press had previously ignored spousal violence against men due to the fact that, the purpose of the government bureau formed in Japan was to protect women and not men. However, with violence reports against women being on

Why Abu Dhabi government band shisha from Coffee shops Research Paper

Why Abu Dhabi government band shisha from Coffee shops - Research Paper Example This was posing a great threat particularly to children who could openly see the awful act done publicly (Frank & Sloan 112). The condition made government, which form part of the stakeholders, to push for a ban of shisha business. In their opinion, they argued that the business would merely increase the immorality despite of earnings it receives in form of revenue from the same (Richard, & Thomas 79). This came out despite an acclamation from one the stakeholders ‘I expect that we will make no more than Dh 100 a day, our business greatly depends on shisha.’ Government had justification in their opinion and stand on the ban of the business in Abu Dhabi. This was in the fight against various severe implications associated with conducting the business legally. Cases of children who could see people smoke publicly and try to enumerate the same declined (Sue Pryce 94). Therefore, banning the business particularly from areas with high populations and different forms of human activities became a step in achieving habitable environment for the entire community (George Fisher & Elmer Berry 134). In the economy sector, there is improvement. This is from the fact of decline in the number of people reporting having shisha related complications. There is low expenditure of finances and other recourses used to curbing the menace. These resources go to profitably profitable and critical sectors that develop the economy. Additionally, human skills that were otherwise lost from deaths resulting from smoking shisha are no more there. In my opinion in support for the ban, it is very evident that currently death rate resulting from smoking is becoming alarming. This is from the actual statistics and data from countries and regions that are facing this menace of shisha smoking. The deaths results from several chronic illnesses arising smoking even other substances like tobacco (Michael & Lyman 68). Research

Gold & Educational psychology Essay Example for Free

Gold Educational psychology Essay The youth culture is influenced by many things each and every day. The society, parents, care givers; all of these help influence youth. But the most important factor to help give the a visual of what teenagers are today are in fact films. You are left wondering how films help influence the teenage race? The cinema of adolescence brings an image of youth, Juno (2007), The Breakfast Club (1985) all encounter specific stereotypes which encourage teenagers. The youth culture is influenced by many things each and every day. The society, parents, care givers; all of these help influence youth. But the most important factor to help give the a visual of what teenagers are today are in fact films. You are left wondering how films help influence the teenage race? The cinema of adolescence brings an image of youth, Juno (2007), The Breakfast Club (1985) all encounter specific stereotypes which encourage teenagers. The youth culture is influenced by many things each and every day. The society, parents, care givers; all of these help influence youth. But the most important factor to help give the a visual of what teenagers are today are in fact films. You are left wondering how films help influence the teenage race? The cinema of adolescence brings an image of youth, Juno (2007), The Breakfast Club (1985) all encounter specific stereotypes which encourage teenagers. The youth culture is influenced by many things each and every day. The society, parents, care givers; all of these help influence youth. But the most important factor to help give the a visual of what teenagers are today are in fact films. You are left wondering how films help influence the teenage race? The cinema of adolescence brings an image of youth, Juno (2007), The Breakfast Club (1985) all encounter specific stereotypes which encourage teenagers. The youth culture is influenced by many things each and every day. The society, parents, care givers; all of these help influence youth. But the most important factor to help give the a visual of what teenagers are today are in fact films. You are left wondering how films help influence the teenage race? The cinema of adolescence brings an image of youth, Juno (2007), The Breakfast Club (1985) all encounter specific stereotypes which encourage teenagers. The youth culture is influenced by many things each and every day. The society, parents, care givers; all of these help influence youth. But the most important factor to help give the a visual of what teenagers are today are in fact films. You are left wondering how films help influence  the teenage race? The cinema of adolescence brings an image of youth, Juno (2007), The Breakfast Club (1985) all encounter specific stereotypes which encourage teenagers. The youth culture is influenced by many things each and every day. The society, parents, care givers; all of these help influence youth. But the most important factor to help give the a visual of what teenagers are today are in fact films. You are left wondering how films help influence the teenage race? The cinema of adolescence brings an image of youth, Juno (2007), The Breakfast Club (1985) all encounter specific stereotypes which encourage teenagers. The youth culture is influenced by many things each and every day. The society, parents, care givers; all of these help influence youth. But the most important factor to help give the a visual of what teenagers are today are in fact films. You are left wondering how films help influence the teenage race? The cinema of adolescence brings an image of youth, Juno (2007), The Breakfast Club (1985) all encounter specific stereotypes which encourage teenagers. The youth culture is influenced by many things each and every day. The society, parents, care givers; all of these help influence youth. But the most important factor to help give the a visual of what teenagers are today are in fact films. You are left wondering how films help influence the teenage race? The cinema of adolescence brings an image of youth, Juno (2007), The Breakfast Club (1985) all encounter specific stereotypes which encourage teenagers. The youth culture is influenced by many things each and every day. The society, parents, care givers; all of these help influence youth. But the most important factor to help give the a visual of what teenagers are today are in fact films. You are left wondering how films help influence the teenage race? The cinema of adolescence brings an image of youth, Juno (2007), The Breakfast Club (1985) all encounter specific stereotypes which encourage teenagers. The youth culture is influenced by many things each and every day. The society, parents, care givers; all of these help influence youth. But the most important factor to help give the a visual of what teenagers are today are in fact films. You are left wondering how films help influence the teenage race? The cinema of adolescence brings an image of youth, Juno (2007), The Breakfast Club (1985) all encounter specific stereotypes which encourage teenagers. The youth culture is influenced by many things each and every day. The society, parents, care givers; all of these help influence  youth. But the most important factor to help give the a visual of what teenagers are today are in fact films. You are left wondering how films help influence the teenage race? The cinema of adolescence brings an image of youth, Juno (2007), The Breakfast Club (1985) all encounter specific stereotypes which encourage teenagers. The youth culture is influenced by many things each and every day. The society, parents, care givers; all of these help influence youth. But the most important factor to help give the a visual of what teenagers are today are in fact films. You are left wondering how films help influence the teenage race? The cinema of adolescence brings an image of youth, Juno (2007), The Breakfast Club (1985) all encounter specific stereotypes which encourage teenagers. The youth culture is influenced by many things each and every day. The society, parents, care givers; all of these help influence youth. But the most important factor to help give the a visual of what teenagers are today are in fact films. You are left wondering how films help influence the teenage race? The cinema of adolescence brings an image of youth, Juno (2007), The Breakfast Club (1985) all encounter specific stereotypes which encourage teenagers. The youth culture is influenced by many things each and every day. The society, parents, care givers; all of these help influence youth. But the most important factor to help give the a visual of what teenagers are today are in fact films. You are left wondering how films help influence the teenage race? The cinema of adolescence brings an image of youth, Juno (2007), The Breakfast Club (1985) all encounter specific stereotypes which encourage teenagers. The youth culture is influenced by many things each and every day. The society, parents, care givers; all of these help influence youth. But the most important factor to help give the a visual of what teenagers are today are in fact films. You are left wondering how films help influence the teenage race? The cinema of adolescence brings an image of youth, Juno (2007), The Breakfast Club (1985) all encounter specific stereotypes which encourage teenagers. The youth culture is influenced by many things each and every day. The society, parents, care givers; all of these help influence youth. But the most important factor to help give the a visual of what teenagers are today are in fact films. You are left wondering how films help influence the teenage race? The cinema of adolescence brings an image of youth, Juno (2007), The Breakfast Club (1985) all encounter specific  stereotypes which encourage teenagers. The youth culture is influenced by many things each and every day. The society, parents, care givers; all of these help influence youth. But the most important factor to help give the a visual of what teenagers are today are in fact films. You are left wondering how films help influence the teenage race? The cinema of adolescence brings an image of youth, Juno (2007), The Breakfast Club (1985) all encounter specific stereotypes which encourage teenagers. The youth culture is influenced by many things each and every day. The society, parents, care givers; all of these help influence youth. But the most important factor to help give the a visual of what teenagers are today are in fact films. You are left wondering how films help influence the teenage race? The cinema of adolescence brings an image of youth, Juno (2007), The Breakfast Club (1985) all encounter specific stereotypes which encourage teenagers. The youth culture is influenced by many things each and every day. The society, parents, care givers; all of these help influence youth. But the most important factor to help give the a visual of what teenagers are today are in fact films. You are left wondering how films help influence the teenage race? The cinema of adolescence brings an image of youth, Juno (2007), The Breakfast Club (1985) all encounter specific stereotypes which encourage teenagers.

Analysis Chaos in Jurassic Park Essay Example for Free

Analysis Chaos in Jurassic Park Essay Jurassic Park: Absurd Chaos The main story of Jurassic Park written by Michael Crichton is about genetically cloned dinosaurs who break loose. Confusion and complete disorder occurs throughout the story of Jurassic Park. In the story, the theme of chaos is unpredictably built in the humans lives. Dr. Ian Malcolm predicts that having dinosaurs in Isa Nubla will cause disaster. If the animals are released to the island, they will be a liability because they will disrespect nature. Malcolm is the most famous mathematician who predicts chaos countless of times in the park. The reeding of dinosaurs are the main cause that create chaos and destructs Jurassic Park. Malcolm foresees that the creation of dinosaurs is not a smart idea, for it can cause unpredicted behavior. Malcolm is a scientist who is outgoing, egoistic and has the knowledge to create new ideas. Malcolm states that it is an attempt to recreate a natural environment from the past (Crichton 92). Dinosaurs are known to be as an ancient species that only existed long ago. Having the idea creating dinosaurs in Jurassic Park is bizarre to humans. Nature is the biggest problem Jurassic Park has at becoming successful. Having the idea of using the dinosaurs as the park entertainment on an island is Just sounds like a major trap under no circumstance. Malcolms calculation has gradually built up the story more precise. As stated by Dr. Malcolm in the book, he said Life will find a way(139). He meant that the dinosaurs will find a way to live the way they want. This is something that scientists didnt think about when they brought dinosaurs back to life. The scientists didnt think about the way that nature would want to live and decided that they could control it. Dr. Malcolm uses the chaos theory to predict the collapse of the park. In the beginning of the book Malcolm is introduced to the story. One of the first things Dr. Malcolm talks about is the chaos theory. In the first conversation with him in the book Malcolm said, Theory tells me that the island will quickly proceed to behave in unpredictable fashion(76). What Malcolm means by this is that without even visiting the park he can say that it will fail. Dr. Malcolm is a problem in the story because convinces other people that Jurassic Park is a bad idea. Dinosaurs represent unnatural habitats to the current society. However Hammond, a billionaire developer, decides to breed dinosaurs in the park. Dr. Hammonds main conceptual idea is to earn a lot of money from the rich tourists so he can build more Jurassic Parks in other countries. He is self centered, greedy and stubborn who is unaware that dinosaurs can ultimately cause destruction. Crichton writes, miou know whats wrong with scientific power? Its a form of inherited wealth. And you know what assholes congenitally rich people are (122). This shows that Hammonds objective is to gain wealth and not for the sake of saving the environment. He is blind to the fact that recreating dinosaurs will only bring negativity to the current world. Creating more dinosaurs will undoubtedly ring chaos to the park. The cloning of dinosaurs starts from John Hammond. Hammond hired scientists and doctors to make his creation come true. In particular, a scientist named Dr. Wu, a young graduate and whom Hammond hires is beginning work. Dr. Wus objective is to control the number is reproduce dinosaurs in the park. By doing so, he thought that putting genetically mortified frog DNA into the missing DNA in dinosaurs will stop dinosaurs reproduction, but in reality, doing this enables the dinosaurs DNA to switch genders and have the ability to reproduce. Furthermore, Crichton writes, All major changes are like death. You cant see to the other side until you are there. (167). After he changed the DNA, the dinosaurs kept reproducing and Dr. Wu and his team had no control over the number of reproduced dinosaurs. Malcolm mentions, All major changes are like death. You cant see to the other side until you are there. (175). This is where chaos and unnatural catastrophe begins in Jurassic Park. Before the grand opening of the Jurassic Park, Malcolm anticipates that having unnatural species is a tragic demise to Jurassic Park, known as the Malcolm Effect. The Malcolm Effect theory is when the island will quickly roceed to behave in unpredictable fashion There is a problem with that island. It is an accident waiting to happen. (84). Overtime Malcolms prediction begins appear later on in the story. The author writes, Living systems are never in equilibrium. They are inherently unstable. They may seem stable, but theyre not. Everything is moving and changing. In a sense, everything is on the edge of collapse (164). Drastic changes occur when the dinosaurs begin to reproduce and when Malcolm and Hammond engage in an argument. Hammond is relieved that the animals did not get free and overrun the world. Malcolm says that the world cannot be demolished by humans creation. Due to the major problem of dinosaurs breeding, dinosaurs are eager to break loose from the Jurassic Park and begin to overpopulate the island In Malcolms calculation it says, Life breaks free. Life expands to new territories(160). Malcolm thinks Jurassic Park has inherent instability or that it is impossible to control even when the analysis is carried out using computer models. The story considers dinosaurs as the most interesting creatures that anyone has ever witnessed. For example, t-rexs, tyrannasaurs, velocipators and triceratops are the ypes of dinosaurs that are chaotic because they use techniques to kill their prey. The way they use the skills to kill the humans were unique because velociraptor works as a communicative group. Many Raptors may have hunted in packs, often ranging in large numberings. They have a primitive level of vocalization, which enables them to direct attacks and call for help. They are also able to set traps. All the dinosaurs have a right skill sets that can cause chaos. Stubborn scientist, dinosaurs breeding cause chaos. Problems add up and there is not anything that will stop it. Dr. Malcom, Dennis Nedry and the way of nature all caused things to go wrong. There is not any way to control nature. As Ian Malcolm incorporated chaos theory into his calculations, all of these events were predicted in one way or another. The count of animals was much higher than expected due to reproducing. Animals are able to escape due to the fences when being powered off by Denis Nedry. Systems began to fail and caused substantial problems throughout the book. Ian Malcolm had it right, Chaos theory proves that unpredictability is built into our daily lives. (313). There is not any way to control nature. No one can stop chaos once it begins.

Effects of Audit Fees on Audit Quality

Effects of Audit Fees on Audit Quality Chapter 1 In this part of dissertation, there is a grief introduction about this dissertation, which includes the following context: the background and overview of related researches in this paper; the motivation for doing this study and a introduction of the structure of this paper. Introduction Firth (1997) notices that the responsibility of auditor is reporting comparative correct financial information to shareholders in an independent position. However, what makes regulators concern more about is the client-auditor relationship, especially the economic relation, which formed in the long-term cooperation may have impact on auditors independent position. For a long time, because of the dependence of auditors fees on client firms, therefore, the controversy about whether this economic dependence might impair auditors independence position and audit quality make many empirical researches in the area. The impairment of audit independence caused by the economic relationship will result in the audit opinion shopping. Previous studies consider about the affects of audit fees on audit quality in two ways: high audit fees paid to auditors may be the reflection of the complexity of auditing process and also increase auditors effort. However, on the other hand, large audit fees paid to auditors might easy to build the economic bonding between client and auditors, thus, auditors are easy to compromise to audit independence, as the fear of losing highly profitable fees. Though a lot studies have researched the relationship between audit fees and audit quality, most of the studies just have blue results for their studies (Hoitash, Markelevich and Barragato, 2007). Basing on the theory that examining the fees paid by client firms will better analyze the relation between audit independence and audit quality, this paper uses the methodology consistent with the way used in previous studies, i.e. Kinney and Libby (2002), Choi, Kim and Zang (2006), Hoitash et al (2007), in which develop a methodology that is depended on the notion that audit fees related to expected fees have effect on audit independence and quality. Therefore, being same as previous studies here will use to audit fees model to measure the expected fees in order to compare with the actual fees paid to auditor. Using the methodology in Choi, Kim and Zangs (2006) study, the differences between actual fees and expected fees are divided into two parts: the positive one and negative one, which helps us to compare whether there is any different reflection when auditors are paid less or excess their expectation. As for the proxy for examining audit quality, the discretionary accruals mode l which drawn from previous literature are selected. As suggested by Choi, Kim and Zang (2006), the modified Jones model for discretionary accruals is used in this paper. The variables in models are selected according to previous studies which consider the influence on audit fees from perspectives of client firms sizes, auditing risk, complexity and the size of audit firms (Chan, Ezzamel and Gwilliam, 1993). Beside dividing abnormal fees into positive subsample and negative subsample, the combined sample is cut into other two subsample which are based to the sizes of audit firms, which aims to examine the different behaviors to audit fees between BIG4 auditors and NON-BIG4 auditors. Thus, the objective in this paper is to prove whether abnormal fees might result in lower audit quality and whether there is different behavior to abnormal fees between BIG4 and NON-BIG4 auditors. Continuing the previous study which is finished by Chan, Ezzamel and Gwilliam (1993), this study uses the data collected from UK market in order to find out related evidence from this market and 787 observations cover the period from 2006-2008 are collected from UK quoted public companies will help to examine audit fees paid to auditors. In addition to examine the relation between abnormal audit fees and audit quality, this study also follows the investigation which is finished by Ashbaugh, LaFond and Mayhew (2003) which focuses the study on whether the payment of non-audit fees has influence on audit independence. To extent this study, the paper here will test the ratio of non-audit fees to total fees paid to auditors which aims to find whether there is a positive relation between increased ratio of non-audit fees and decreased audit quality. Being different with Ashbaugh et als (2003) research which analyzes non-audit fees in full sample, this non-audit fees here will be analyzed in subsample with positive abnormal fees and subsample of negative fees respectively, thus, whether non-audit fees have different influences on audit quality when auditors are paid higher or lower fees than their expectation should be examined. The motivation for doing this study is based on the aim that finding out whether the economic bonding between auditors and client firms is existed really, as this relationship is one of the most controversial topic in public and academic area, especially after the Enron even and the failure of Anderson, this topic motivates more and more interesting in this area. However, according to the results of previous studies, many studies failed to prove the existent of this relationship between auditors and client firms, and the results in other relative studies are ambiguous. Moreover, because of active economic environment and accounting events, most studies paid attention on American market, as for other markets, seldom of relative investigations can be found. The aim in this study is try to find out relative evidence from UK market. The structure of this paper follows: the next part is a literature review in related area which introduced both early and latest studies; and then is the development of hypotheses the resource of relative theory and the contribution of hypotheses are included in this part. The design of methodology is presented in chapter 4 which has a description of important models in detailed. Furthermore, the chapter after it is the description of sample and the result of test, which is also the center of this study. The limitation and conclusion will be displayed in the last chapter which gives an overview and comment of this study. Chapter 2 There is a literature review of relative studies in this part. The literature review covers the studies in relative area which includes the result of studies and the development of methodology related to the investigation. The primary previous studies are displayed and concluded in this chapter. 1. The importance of auditor independence Since the collapse of Enron in US and the scandal of Andersen, the worlds capital market confidence was reduced (Beattie and Fearnley, 2002). A large of the attention is paid on accounting and auditing practices, especially on the auditor independence. As some scholars (Beattie and Fearnley, 2002) point about that the independence of auditor is the base of the public confidence to audit process and the guarantee of the quality of financial information. In addition to this, rather than a benefit to investors, auditing also reduces the cost of information exchange for two sides (Douch, 1980 and Simunic, 1982). From these words, we can easily know that a high quality of auditing information might ensure the reliability of market information, therefore, many experts in this area focus their empirical researched on factors for the reduction of auditor independence in order to find out the reasons for impairing auditor independence. The economic bonding between client and auditor account f or an important position in this kind of research. 2. Review on the payment of high audit fees on opinion shopping DeAngelo (1981) shows the evidence through investigating the low balling phenomenon in audit market that when audit firms have a significant economic benefit on client firms, audit quality and independence are easy to be reduced. The same as DeAngelos (1981) research, Magee and Tseng (1990) also have similar conclusion. Authors extend the previous research (DeAngelo, 1981) to find out in which condition the economic bonding may lead to the impairment of audit independence. The study provides a result that when auditors compensation is tied to the decision of audit opinion and then, their independence is more likely to compromise to economic bonding. Frankel, Johnson and Nelson (2002) take the research in this area to provide empirical evidence for the relation between audit fees and earnings management. Their study is based on data selected from 3074 proxy statement listed in SEC in the period from Feb 5, 2001 to June 15, 2001. The evidence of this research confirms the assumption th at there is an association between audit fees and the possibility of the compromise of audit independence. Kinney and Libby (2002) continue the research from Frankel, Johnson and Nelson (2002). Through analyzing the empirical research which has been done in the previous study, authors draw up a conclusion that auditors are probable to loss their independence in reducing their willingness to resist with client-induced biased in reporting audit opinion, when there is a strong economic benefit between auditors and clients. However, some empirical tests in the same area conclude the opposite results. Craswell, Stokes and Laughton (2002) do the research to indentify whether fee dependence have impairment on audit independence. They do the research from both aspects of national market level and local market level, but they find evidence neither from national market level and local market level can demonstrate that fee dependence has negative impact on audit quality. In other words, the economic bonding is not existed in the auditor-client relationship. In the following paragraphs, literature review about the impact of abnormal audit fees and non-audit fees on audit opinion shopping are shown. 2 .1 The review of abnormal audit fees on opinion shopping From the literature review above, the evidence for the opinion shopping through the behavior of paying high non-audit fees is still absent. And some auditors (Kanodia and Mukferji,1994) point out that switching incumbent auditors cause clients loss initial engagement and negotiate fees, beside this, switching auditors is less likely for client firms to achieve clean opinion (Chow and Rice, 1982) and event more conservative audit opinion (Krishnan, 1994). Therefore, comparing with paying high non-audit services fees and switching auditors, paying auditors with higher audit fees is a more efficient and less risk approach in opinion shopping (Fang and Hong, 2004). However, although there are some proofs can provide the assumption that higher audit fees, on some extent, can exert impact on audit quality, to analyze the relation between abnormal audit fees and audit quality, there are many factors should be concerned about, as these factors (no just economic bonding) also result in high fees. Some practitioners extend their research in this area by analyzing the association abnormal between audit fees and the changes in audit opinions. Hoitash, Markelevich and Barragato (2007) consider the high audit fees paid to auditors on two aspects: one is the positive side which suggests paying high fees can increase auditors effort in their jobs, thus, the quality also be improved; the other is the negative side which suggests that high audit fees paid to auditors may enhance the economic dependence on clients, thus, auditors independence is easy to compromise to economic benefit and audit quality also reduced. In the research, they examine the fees paid to auditors between the period over 2000-2003, using two metrics to assess audit quality: the accruals quality measure and the absolute value of performance-adjusted discretionary accruals. They predict abnormal audit fees by using pricing model from previous studied Simunic (1980), and consider about the factors may have impact on fess pricing, such as risk, complexity, and company size. The outcome of this investigation shows the conclusion that abnormal audit fees might result in economic bonding and thus impair audit quality. Similarly, Choi, Kim, and Zang (2006) have the same category of abnormal audit fees: the positive abnormal fees and the negative abnormal fees, the sample in this research constituted by the data collected from 9820 listed large companies audit fees observations during 2000-2003 period. Study also choose model from Simunic (1980) to estimate the audit fees. The result of the regression model shows that evidence that the possibility of auditors independence compromise to economic bonding is depending on whether clients may pay higher audit fees than the normal fees. In another word, audit quality will be impaired by abnormal fees. Fang and Hong (2004) also issue the opinion about the abnormal fees that high fees paid to auditors may be caused by the real improvement in companies; therefore, the positive increase in audit opinion may also cause the increase in audit fees. Authors examine the relation between abnormal audit fees and audit quality by comparing the audit opinion in present year with the prior year, and find out the association between the abnormal fees and the changes of opinions. The database in this research is comprised by Chinese listed companies during the period from 2000-2002. Through the testing in regression model, authors find that the result is consistent with the positive relation between abnormal audit fees and improvement in audit opinion, which provides evidence that client companies succeed in opinion shopping through overpaying to auditors. 2.2 The relation between the size of audit firms and audit quality But one point worth researcher to notice is the higher payment of audit fees does not mean the tendency of opinion shopping necessarily. Some evidences from other area can proof that the purpose of opinion shopping is not the only reason of high audit fees. Simunic (1980) issues his opinion in the research of audit pricing that the competition in audit market is function of fees pricing. The same as this theory, the research on the low balling behavior (DeAngelo, 1981; Kanodia and Mukferji, 1994) confirm the opinion that competitive market will produce influence on audit fees. In addition to this, the audit firm sizes, the quality of auditors also have effects on audit price. Francis (1984) analyzes the effect from audit firm size on audit fees. Author researches for the evidences by comparing the differences of audit fees of Big-8 (Big-4 now) firms and of non-Big-8 firms over the period from 1974-1978 in Australian market. The research provides the evidence that there is larger size audit firms will result in higher audit fees, at the same time, study demonstrates that higher audit fee is consistent with higher audit quality. The similar research is done recently by Choi, Kim, Liu and Simunic (2008) through using a large sample from 1 5 countries and a cross-country regression. Beside this, study links the research to audit characteristic and legal environment. After analyzing the difference between the fees in Big-4 firms and non-Big-4 firms, authors achieve the conclusion that the relation between firm size and the level of audit fees is existed. According to the interview finished among auditors (Chan, Ezzamel and Gwilliam, 1993), the BIG 6 and NON-BIG6 (BIG4 now) auditors confirm that the BIG6 premium might exist if comparing with very small audit firms, but no medium size firms. The interview here reflects a phenomenon that the difference in audit fees between BIG4 and NON-BIG4 audit firms are not so obvious. 2.3 The payment of non-audit services fees on opinion shopping The provision of non-audit services by audit firms to client firms is another controversial topic in opinion shopping. Policy makers argue that the provision of audit and non-audit services to same clients is possible to reduce the level of auditors independence (Houghton and Ikin, 2001). At the same time, auditors protect themselves by arguing that supplying non-audit services does not impair their independence, because these works are often be done by different partners and staff. For a long time, researchers have never stopped investigating in the area. 3. The influence of non-audit fees on audit independence As to the audit independence, there are many definitions for it. DeAngelo (1981a, p.186) defines audit independence as the conditional probability of reporting a discovered breach; Knapp (1985) provides the definition as the ability to resist client pressure; the definition from AICPA (1992) is an attitude/state of mind; according to Magill and Previts (1991) definition, audit independence is a function of character, with the attributes of integrity and trustworthiness being key and ISB (2000) defines audit independence as the freedom from those pressure and other factors that compromise, or can reasonably be expected to compromise, an auditors ability to make unbiased decisions. Although there are somewhat differences between those definitions of audit independence, they have a common point that is the importance of objectivity and integrity (Beattie and Fearnley, 2002). Beside provide the audit services to clients, audit firms also provide other services to clients, these services are called non-audit services, such as management advisory and consulting, but the compliance related services, such as taxation and accounting advice, are also included in them. However, as many experts (Beattie, Brandit and Fearnley, 1996) point out that this kind of non-audit services related closely to the annual reporting round. Therefore, the use of consultancy for non-audit services is somewhat wrong. What is discussing most in academy about the provision of non-audit services is the potential conflict of interest faced by audit firms who receive large non-audit fees from their audit clients. For example, after the Enron case, it was disclosed that Andersen received $25m in audit services fees and $27m for non-audit fees (Beattie and Fearnley, 2002). So, such high non-audit services fees paid to audit make public and scholars to suspect that the provision of non-audit services increases the economic bonding between auditors and clients. Many investigations are based on the assumption that the provision of non-audit fees reduces auditors independence, as they fear for losing high profit engagement with clients in the future; therefore, they are probably to give up independence for high profit. 3.1 The review of the researches in association between non-audit fees and audit quality In the early 1980s, researchers had found that the percentage the revenues from providing other services in audit firms had increased lot (Barkess and Simnett, 1994). The early empirical study is done by Simunic (1984). Author establishes his study on the assumption that those client companies who purchase non-audit services have a higher audit fees paid to auditors than audit fees from those companies who do not purchase non-audit services, and both of them hire the same incumbent auditors. In this investigation, author just focus the test in Big-8 (Big-4 now) firms, which avoids the differences on audit quality, and selects a database compromise of 397 US listed companies. From the research, he finds out than there is a positive relation between non-audit services and audit fees. Simon (1985) continues previous research (Simunic, 1984) in this area by using more recent data in the period from 1978-1983. His research depends on the voluntary disclosure from proxy statements (the non-audit services fee is not disclosed that time). His research also produces the result that client firms who purchase non-audit services have higher audit fees than those companies without the engagement of non-audit services with audit firms. The evidence from UK market (Ezzamel, Gwilliam and Holland, 1996) constitutes the research on the data from 314 UK listed companies. From the study, authors found out similar result consistent with previous researches (Simunic, 1984; Simon, 1985). To be different from above studies, this study joints non-audit services with other factors together to investigate the effects on audit pricing. Many previous researches have confirmed the phenomenon that the positive relationship between the purchase of non-audit services and higher audit fees paid by clients exists. But the existence of this relationship causes regulators, practitioners and publics attention about whether this economic bonding between client firms and auditors might impair audit independence. Barkess and Simnett (1994) concern about independence on two aspects, one perspective is to examine whether those clients purchase other services from auditors are less likely to receive qualified opinion; the other one is the determination of the relationship between the provision of other services and audit service by comparing those companies who provide non-auditor services but do not change auditors and those companies change auditors. In the study, the sample is compromised by the Top 500 listed companies in Australia for each of the years from 1986 to 1990. From the study, they conclude the result that 85%of the companies in the research purchased non-audit services from the incumbent auditors and the increase in the percentage in stable in the period. In addition to this, their result supports the point that there is a positive relationship between audit fees and the provision of non-audit services. As far as the audit independence concerned, their research show that there i s not identified relationship between the supply of non-audit services and the type of audit report, as they found that there were 308 qualified opinions in the total sample of 2094 audit reports. Therefore, they concluded that there was not enough evidence can demonstrate the hypotheses that auditors were less likely to issue the qualified opinion when the level of non-audit services to clients was higher. In other words, the provision of other services does not impair audit independence. However, Wines (1994) concluded the opposite result by testing 100 public companies on the Australian Stock Exchange at 30th June 1980, in the sample, 24 of these companies were failed to do the test, therefore, and author examined the 76 left for over the period of ten years. From the test in these 76 listed companies, author drawn up the findings that 7 of 76 companies paid a higher level of remuneration for non-audit services to auditor than the provision of audit services and those companies with non-qualified opinion had higher payment of non-auditor services fees than those companies with qualified opinion (28 companies. Hence, Wines gives the summary that the evidences from the research in 76 listed companies associate with the assumption that the provision of non-audit services has impairment on auditors independence. Wines (1994) also points out the limitation in his research is difficulty in assessing audit quality by considering the frequency with which auditing firms iss ue qualified opinions. However, one problem in Barkess and Simnett (1994) and Wine (1994) studies is that their sample is not large enough in test. Craswell (1999) makes advantage in his study by using a larger data sample and makes the evidence related to auditors actual decisions. The fiscal-year data chose by author to examine are obtained from who audit Australia, the sample is consisted by 885 public listed companies in 1984, 1477 in 1987 and 1079 in 1994, the results show that in each of the year (1984, 1987, 1994) the result does not associate with the assumption that non-audit services have negative effect on auditor independence, which is consistent with Barkess and Simnett (1994). But one limitation in his research is that this study just compares the companies with qualified opinions with those companies with unqualified opinions, while a better test should compare the companies with qualified opinions with such companies with clean opinions but experienced problems and likely to raise qualifications. Although most of the investigation have done by researchers show that the provision of non-audit services does not impair audit independence, regulators still hold the assumption that auditors will prefer to give up their independence in order to obtain more non-audit services fees from clients (DeFond, Raghunandan and Subramanyam, 2002), especially after the Enron accounting scandal. In 2002, the Sarbanes-Oxley Act (the Act) imposed the prohibition on the provision of non-auditor services, which based on the direction of enhancing auditor independence, reducing conflict of interest and the concern that all non-audit services were not created equal (American Institute of CPAs, 2002). At the same time, the US Securities and Exchange Commission (SEC, 2002) made the revision the Commissions regulations related to the non-audit services, which are consistent with the content in Sarbanes-Oxley Act. After the prohibition on non-auditor services added in Sarbanes-Oxley Act and SEC was carried out, many scholars continue the prior researches in this area. Frankel, Johnoson and Nelson (2002) used a sample constituted of 3074 proxy statements, used two indicators (discretionary accruals and the likelihood of firms meeting earning benchmark), to test whether audit independence would be reduced when the non-audit services grew. The consequence of the research indicates the evidence that there is an association for the assumption that auditors likely tend to sacrifice their independence when the non-audit services fee is high. Ashbaugh, LaFond and Mayhew (2003) continued this research, but the conclusion challenges the results made by Frankel, Johnoson and Nelson (2002). In the test, they used the same indicators as prior one. In the test, they find that there is no relation between positive discretionary accruals and auditor fee metrics; furthermore, their test proof that the relatio n between fee ratio and the likelihood that firms beat analysts forecasts is not existed, in other words, auditors independence will not compromise to clients high non-audit services fees. 4. Review of the development of models In empirical studies, the relative models will help to connect independent variables together in order to analyze the relation between each variable. In the study of the relation between audit fees and audit quality, the most important models are the model for measuring audit fees and audit quality. In this part, a review of the development and modification of two models is displayed. 4.1 Review of the development of audit fees model Since Simunic (1984) develops the audit fees model in order to predict the expected audit fees, the model has been developed lot in these years. In the beginning, Simunic (1984) provides the theory that the audit fees level will be affected by the several factors, such as the client firms sizes, the complexity of auditing process, audit firms sizes and audit risk. The following scholars provide the related variables for model which the used to decide expected audit fee. Chan, Ezzamel and Gwilliam (1993) point out in their study audit size is an explanatory variable which has important influence on the determinant audit fees. In the study, authors suggest to use the measurement of turnover to control audit size, which is also the measurement of client firms sizes. However, the use of turnover as determining is not unproblematic because the definitions of turnover are varying widely between companies and industries. Therefore, to measure audit size and client firms sizes, many researchers choose the total assets as variable. To consistent with previous studies, Ashbaugh, LaFond and Mayhew (2003); Choi, Kim and Zang (2006); and Hoitash, Markelevich and Barragato (2007) use the nature log of total assets to control client firms sizes and audit size. In addition to using total assets and turnover as proxies to audit size, on most investigations, likes Ashbaugh et al (2003) choose the number of employees to quantize audit size. Both of these scholars use number of business segments and geographic areas in measuring audit sizes. As for the measurement of complexity of audit process which is another reason for increasing audit fees, Chan et al (1993) suggest to use the number of subsidiaries to measure it. According to previous studies (Ashbaugh et al ,2003; Hoitash et al ,2007), the proportion of foreign subsidiaries will have influence on the increase of audit fees, therefore, the ratio between foreign subsidiaries and total number of subsidiaries is selected to measure this effect on audit fees. Furthermore, Choi, Kim, Liu and Simunic (2008) use the ratio of the sum of inventories and receivables to total assets to present complexity. Lastly, the dummy of gain or loss before extraordinary items is a popular variable in latest studies, such as the study in Hoitash et al (2007). The level of risk in audit processing is another factor causes increase in audit fees. Turley and Cooper (1991) provide the hypothesis that there is a positive relation between audit risk and audit fees. Chan et al (1993) predict higher risk makes consequence in higher audit fees is because auditors want to take the excess fees than normal level as an insurance premium and this hypothesis is supported by interview findings. Most of previous studies focus on using such variables as liquidity ratio (the ratio between current liabilities and current assets), and gearing ratio (the leverage), to test the level of audit quality. However, as previous scholars point out that the audit risk which is the reflection of the nature of the business of the enterprise and the control of enterprise is difficult to measure. Therefore, the subjective judgments in measuring audit risk are hard to avoid. The level of client firms performances is will also has impact on audit fees. According to the interviews between audit partners (Chan, Ezzamel and Gwilliam, 1993), it is confirmed that there is a link between the level of client firms profitability and the level of audit fees, and the association between them is negative. Furthermore, it is commonly agreed that when a client is facing with financial pressure is more likely to ask for controlling overhead costs wich might be result in higher audit fees. To measure the level of this variable, Chan et al (2003) use the return on equity to measure it, while other researchers like Hoitash et al (2007) and Chan, Kim, Liu and Simunic (2008) use the return on assets to measure this. Beside variables above, there are other potential reasons which might also cause the changes in audit fees. However, seldom of previous studies pay attention on these potential variables (Chan, Ezammel and Gwilliam, 1993) according to the study finished by Chan et al (1993), the control of ownership is also one of the variables in audit fees model. The hypothesis in their paper makes the assumption that the extension of audit services will be a factor in the ownership control as companies with a diverse ownership structure are required a higher quality audit. Therefore, the audit fees are increased. However, it is difficult to measure the extension of ownership control directly. The timing variable is another reason in the fluctuation of audit fees (Chan et al, 1993). According to the audit season in UK market, the accounting year between 1 December and 31 March is the busy season, others are non-busy, and the former season will increases audit fees as auditors have a comparatively shorter deadline in it. Moreover, though test, authors find that the legal liability also have impact on the level of audit fees, as the evidences demonstrate that legal liability is a fee-increase factor. Lastly, other variables, such as the location of auditors, are seldom be used as variables in investigations. 4.2 Review of the development of discretionary ac

Mens And Womens Changing Famiy Roles Essay -- Gender Role Conflict

It goes without saying: the family is the core of society. It's the core where values and characters are formed. All of us are aware of this fact. However, we may not be aware that it is within the family unit that the origin of women's oppression began. It began with the power struggle between man and woman. With the "nuclear family" in decline and the "dual-earner" family becoming the norm, it's no wonder that women's positions have changed radically. Although their positions in the family and work force are indeed changing, their workload, however, is not.   Ã‚  Ã‚  Ã‚  Ã‚  With this radical change many issues can be addressed, particularly, to the women's role and how it has remained fairly constant over the years. A closer examination will look at the development of gender inequality within the family as a result of the ever-changing issue. A second issue that needs to be inspected is that the family roles have changed in regards to family make-up as women have moved into the work force. This growing capital effort to increase standards of living by pushing every family member into the paid labour force has taken a toll on the family unit. The final issue that will be investigated in this report is how the traditional sex roles have remained constant, even with women's ever-changing family position over the years.   Ã‚  Ã‚  Ã‚  Ã‚  For decades, commencing back to the time when patriarchy was the "norm" and women were their husband's property, men have oppressed women. This ideology of patriarchy existed way before it was ever examined by sociologists and it was accepted as a natural or biological way of living. It wasn't until the 1960's when feminist groups began to explore patriarchy and at the same time began to exploit it, that patriarchy was established. Feminists at that time, and even still today, believe that patriarchy operates to achieve and maintain gender inequality and is the essential key to women's present subordination. Not only does patriarchy exist in the pubic domain of the paid labour force, but also in the private domain of the household, or better yet, the family.   Ã‚  Ã‚  Ã‚  Ã‚  With patriarchy by its side, gender inequality has developed into one of the biggest controversies amongst sociologists, feminist groups, and women. In modern day society women are working their way into the labour force, and "expanding their roles to include working outside the hom... ...des, and they will continue to do so until domestic work becomes a paid labour. Bibliography   Ã‚  Ã‚  Ã‚  Ã‚  Blair, Sampson Lee and Daniel T. Lichter. "Measuring the Division Of Household Labour". Journal of Family Issues 12.1 (1991), 91-113. Kaufman, Gayle. "The Portrayal of Men's Family Roles in Television Commercials". Sex   Ã‚  Ã‚  Ã‚  Ã‚  Roles 41.5/6 (1999), 439-459.   Ã‚  Ã‚  Ã‚  Ã‚  Luhaorg, Helen and Marilyn T. Zivian. "Gender Role Conflict: The Interpretation of Gender, Gender Role and Occupation". Sex Roles 33.9/10 (1995), 607-619. Lye, Daniel and Timothy J. Biblarz. "The Effects of Attitudes Toward Family Life and   Ã‚  Ã‚  Ã‚  Ã‚  Gender Roles on Marital Satisfaction". Journal of Family Issues 14.2 (1993), 157-188. Mintz, Robert D. and James R. Mahalik. "Gender Role Orientation and Conflict as   Ã‚  Ã‚  Ã‚  Ã‚  Predictors of Family Role for Men". Sex Roles 34.11/12 (1996), 805-821.   Ã‚  Ã‚  Ã‚  Ã‚  Pittman, Joe F., Wei Teng, Jennifer L. Kerpelman et al. "Satisfaction With Performance of Housework". Journal of Family Issues 20.6 (1999), 746-770. Sharpe, Mark J, Paul Heppner and Wayne A. Dixon. "Gender Role Conflict,   Ã‚  Ã‚  Ã‚  Ã‚  Instrumentally, and Well Being in Adult Men". Sex Roles 33.1/2 (1995), 1-18.

What it Was and What it Is :: Anglo Saxon Women Essays

What it Was and What it Is Anglo-Saxon women did not have many roles, but the few that they had were important and had an influence on their families. In the Anglo-Saxon culture women were seen and considered as less important than men because men are the stronger ones, the leaders, the fighters or warriors, the heroes!!! During this time period women were not acknowledged by society. Their role was to stay home and take care of their related responsibilities, as well as their children. Women had no major role in the decision-making because the men, being either the father or the husband, were the ones to make the decisions for the women. However, women were taken into consideration and valued when their marriages were arranged to promote the physical or economic well-being of their family and tribe. In Anglo-Saxon culture women were at times engaged in marriage to a family that would bring forth fortune and wealth. At other times, a family would marry a daughter to an enemy family in order to secure peace or safety and wealth among the joined families. In such a role, women in Anglo-Saxon culture were referred to as the â€Å"one who weaves peace,† making them known as â€Å"peace weavers.† We can see an example of this in Beowulf, when Hildeburgh, a daughter of the former Danish king, is married to Finn, who was king of the Jutes. Because the Danes and the Jutes are enemies, Hildeburgh has to witness the burial of her son and brother who are killed fighting on either side of the feud. Although women did not have much influence as men did, they had a lot of influence on the family-related issues. One example may be found in Beowulf, in the character Wealhtheow. Wealhtheow is the wife of Hrothgar. She is portrayed as aware of the politics of the court and cautious for the well-being of her family. In Beowulf, she foreshadows some events that later happen to her family. An example of such an instance would be when she foreshadows the fall of the Great Hall caused by her family. We know this when she says, â€Å"Here is each earl true to other, mild of heart, loyal to his lord; the thanes are at one, the people obedient, the retainers cheered with drink do as I bid† (Donaldson, p 22 Beowulf). Anglo-Saxon women had the responsibility of seeing over their children.

How Nirvana Changed the World Essay

In the late eighties music was going through a big change. People wanted something new, something exciting, especially the younger generation. No more soft melodies and pop music like Duran Duran and Madonna. In these changing times a very special band called Nirvana came on the music scene. Three young man from Seatlle, Washington – Kurt Cobain on vocals and on guitar, Krist Novoselic on bass and Dave Grohl on drums – they were everything people yearned for, but didn? t even knew it. With long hair, washed-up jeans and ? I don’t give a f†¦? ttitude people wanted to see more. They defied authority with rough sound later defined as Grunge – a mixture of metal and punk rock. Their lyrics gave a whole generation meaning, hope and something to aspire to. If you look at most of the bands and singers of the eighties, you see a certain type of look; very polished, man with top buttons of their shirts opened – kind of a macho look. The girls had big hair and small, tight outfits that don’t leave much to the imagination. But in the end of the decade there was a new look, changing the standards. Really long, neglected hair, light jeans full of holes and so washed-up that it was hard to recognize their color. In around the year 1989 this look became known as the Grunge look. Nirvana looked and acted like they were nothing important, just three regular guys and if it weren’t for that image they would have never got such a sensation as they did. Completely different from their look was their sound, their music. Well played choruses combined with excellent long solo? s, this was something to hear. According to Cobain, the sound came first and the lyrics followed. With songs containing lyrics like ? Here we are now, entertain us? , ? I? m so ugly, but its okay ? cause so are you? and ? When I swear that I don’t have a gun? you would think people wouldn’t relate. But they did and sung along from the top of their lungs on concerts. One of the things that made them sound so good is the fact that Kurt, who wrote most of the bands music and lyrics poured his heart and soul into every song. When their second album Nevermind came out in 1991, the band became an instant global success story. They changed from an underground band playing in bars and small halls to an international sensation that booked big tours all around the world. Although they were famous now, had a lot of money and fans something was still missing for Kurt. If you compare their early years to the year 1993 or 94 you can see Kurt? s transformation. From an enthusiastic and charming person became a sad, lonely individual who had seemed to lose his spirit and was in a lot of pain. Many people believe that was due to drugs he was using, but I think there were many contributing factors to his fading character. It is recognized that his marriage to Courtney Love, who was also a musician, just less successful one, had a lot to contribute to his state of mind. Love is a person who craves constant attention and the finest things in life like expensive clothes and jewelry, big houses and non-stop excitement, partying. People say that opposites attract (and so did Kurt in Milk It), but that was one strange couple with a stormy marriage filled with public disputes and scandals. I? m starting to believe that such different people shouldn’t be together despite their attraction towards one another. Due to all these factors and many more Kurt ended his life with a shotgun to the head in April of 1994. For a short time of five years Nirvana was on the top and had the world in its palms. Most people agree that they inspired a whole generation with their music and their charisma. Only every once in a while comes a band like this, which has the complete package that just looks and sound perfect. It is sometimes said that Kurt was a spoiled child, who couldn’t take the circus that comes with fame, so he took the cowards way out and ended his life, leaving his loved ones behind. In my opinion he was a great man who suffered from problems like everyone else and being in the constant spotlight just made things worse. People who liked them will always remember that funny trio that did a difference on the music scene. When I listen to their records, I get the feeling that I can do great things, everything I want and much more. It doesn’t matter where you come from or how you look, you are something special, something unique. At least, that is how I understand and interpret their message towards the world.

The Relationship of Procrastination and Self-Esteem on the Failing Grades

THE RELATIONSHIP OF SELF-ESTEEM AND PROCRASTINATION ON THE FAILING GRADES OF THE COLLEGE STUDENTS OF UNIVERSITY OF SOUTHERN MINDANAO, KABACAN, COTABATO PAMELA CLAIRE C. GARROTE A Thesis Outline Submitted to the Department of Psychology, College Of Arts and Sciences, University of Southern Mindanao, Kabacan, Cotabato in Partial Fulfillment of the Requirements for the Degree of BACHELOR OF ARTS IN PSYCHOLOGY MARCH 2013 INTRODUCTION College is a fun, exciting, and challenging experience for most students, but for some, it is simply too much to handle.Few high school students are aware of what college life is like. Unlike in high school, college classes usually require a large amount of time spent outside class, working for the class, and some students do not understand the importance of this. A surprisingly large number of college freshmen have extremely poor time-management skills, which can lead to more time, spent partying than studying, which is the main cause of failing tests. All of these are causes of the students ultimately flunking out of college.Self-esteem is the overall self-evaluation of one’s self, this is according to Myers. It is said to be the most important in helping the person grow. You cannot achieve a certain goal if you don’t have it. With a high level of self-esteem, it can help you in your studies, at work and in dealing with other people. Procrastination, in layman’s term, it said to be wasting your time. This dilemma is very common especially in those who are studying. With this kind of attitude there are most likely to be successful.Many students entering college have extremely poor time management skills. One major problem is procrastination. Some students will wait till the night before a project is due before starting it, quickly rushing through the project, making careless errors, and getting little rest that night. Another self-destructive habit many college students have is cramming for tests. Often this cramm ing session takes place the night before, or even the morning of, the test, wherein the student tries to cover many weeks worth of material in a few hours.This method of studying is almost worthless because the student will never retain any of the knowledge he or she â€Å"studied. Objectives of the Study The purpose of this study wants to know the relationship of self-esteem and procrastination on the failing grades of the college students of University of Southern Mindanao, specifically aims to: 1. Measure the level of their self-esteem. 2. Know if self-esteem and procrastination create a big impact in their failing grades. Significance of the Study The outcome of this study can be very helpful, especially to the locale of the study.If this study will be conducted successfully, those students who have failing grades because of low self-esteem and are procrastinating can be serving as participants in seminars such as boosting your self-esteem. It can be beneficial to the universit y they can also help improve the education of the students. Scope and Delimitation This study focuses on the self-esteem and procrastination and its possible relation to the failing grades of the college students of USM. The participants were chosen regardless of their age, sex/gender, ethnicity, and financial ability.The participants were also those who have failing grades. Hypothesis of the Study Ho: There is no relationship of self-esteem and procrastination on failing grades. Theoretical Framework Individual Psychology was founded by  Alfred Adler. It is a cognitive, goal-oriented, social psychology interested in a person’s beliefs and perceptions, as well as the effects that person’s behavior has on others. It is one of the few psychologies interested in democratic processes in the home, school and work place.Individual Psychology promotes social equality, which means granting each other mutual respect and dignity regardless of our inherent differences. It is no t a set of techniques but a comprehensive philosophy of living. The three most fundamental principles are: (1) behavior is goal oriented; (2) humans are fundamentally social, with a desire to belong and have a place of value as an equal human being; and (3) the individual is indivisible and functions with unity of personality (Ferguson, 1984).These principles, which make Individual Psychology unique from other approaches, are described in Adlerian psychology as  purposiveness,  social interest, and  holism. Together, these principles describe the person as moving in unity toward self-chosen goals that reflect a human value for belonging and social contribution. Conceptual Framework In this study, self-esteem (IV) is also the basis to the participants’ overall self-evaluation and procrastination (IV) as the basis in determining the student’s behavior in school.And failing grades (DV) will be the basis in getting the needed data. Failing Grades Self-esteem Procrast ination Fig. 1. Schematic diagram showing the relationship of self – esteem and procrastination on the failing grades of the participants. Operational Definition of Terms METHODOLOGY Research Design The relationship of self-esteem and procrastination on failing grades will use the survey and correlational analysis research design to obtain baseline information on the failing grades of the college students of USM.Respondents of the Study The respondents of the study are those college students who have failing grades last semester school year 2013-2014. Locale of the Study The locale of the study is located on the northern part of Region XII, specifically on the town of Kabacan, where the University of Southern Mindanao is located. This is a state university, with a population of more or less fifteen (15) thousand students. The main college to be conducted with the survey is the College of Arts and Sciences.In this college, there are eight (8) courses. These are: Bachelor of Ar ts in Psychology, Bachelor of Science in Development Communication, Bachelor of Arts in Political Science, Bachelor of Science in Criminology, BLISS, Bachelor of Science in Chemistry, Bachelor of Science in Biology and Bachelor of Arts in English. This college has a population of more or less five (5) thousand students. Data Gathering Procedure The researcher of this study will get the probationary list in each course of the College of Arts and Sciences.These courses are Bachelor of Arts in Psychology, Bachelor of Science in Development Communication, Bachelor of Arts in Political Science, Bachelor of Science in Criminology, BLISS, Bachelor of Science in Chemistry, Bachelor of Science in Biology and Bachelor of Arts in English. After having the list, the researcher will communicate with those students who are included in the list and the researcher will let them take the tests, which are the self-esteem and procrastination tests. The researcher will limit to fifty (50) respondents d epending on the availability of the students.

Medical Program Application Essay

As the end of my high school education draws near, I contemplate what I will do with my future. I have always been told to do what you enjoy and make a living out of it. Four years ago, I set out with this bit of advice, trying to find out what it is I like to do. After participating in clinical education in different health care settings, I realized that my interests lay in nursing. My short-term career goals consist of successfully passing the certified nurse assistant state exam this May, and through online training, becoming a patient care technician. Next, I will get a part-time position as a patient care technician in one of Texas Health Resources’ competitive hospitals while gaining an associate’s degree in nursing at a local and affordable college, such as Tarrant County College. While obtaining a bachelor’s degree in nursing, I will continue to work as a nurse in the surgical intensive care unit to develop my skills necessary to achieve my long-term goals. I will develop my understanding of how to apply technical, theoretical, and academic knowledge to practical problems. I will also hope to build a networking relationship across Texas Health Resources’ organization of health care professionals. Because I am paying for my college education on my own, getting my nursing degree at a community college is my only option, though my long-term goals are not restrained by this circumstance. My ultimate goal is to become a certified registered nurse anesthetist and continue to be employed in one of Texas Health Resources’ innovative hospitals. To achieve this goal I will gain experience by working as a nurse and I hope to further my education at one of Texas’ top accredited nurse anesthesia programs such as the ones at Texas Christian University, Baylor University, or University of Texas at Houston Health Science Center. With this master’s degree under my belt, I will pass the required state exams, and obtain my goal as a certified registered nurse anesthetist. I will be able to mentor and develop fellow coworkers and acquire marketable, managerial and technical skills necessary to thrive in tomorrow’s health care industry. Joining my school’s HOSA club early in high school sparked this aspiration to be a nurse. This club educates adolescents about the different positions in the health care field, including nursing. I am interested in a nursing career because nursing is a profession of integrity and compassion that affects and touches other people’s lives. It is a privilege that measures out my values as a human being. I feel that I am the right person for the Youth Prodigy Program because of my past experiences, my personality, and my work ethic. The nursing assistant class I am enrolled in is teaching me health care standards and expectations so I will have an education that exceeds the expectations of this program. I am dependable, a hard worker, a team player, and a fast learner. By giving me the privilege to succeed in the Youth Prodigy Program, you will be gaining an employee that will improve and elevate the Texas Health Resources hospital system.

Automobile Industry Essay

†¢Key drivers of the automobile sector are economic conditions, governments and regulations, consumer demands and interests, globalization and technological innovations †¢Generally, if the economic conditions are constant and good, people will seems willing to buy vehicles more than ever in all around world. In contrast, if economic conditions are bad, sales graphs will reverse and companies start to lose money. Firms should decide right production numbers in every condition and this capacity exactly depends on economic circumstances. †¢People are more conscious about what they except from a car and firms must satisfy these needs to survive in this sector. Even luxury automotive brands start to produce low fuel consumptions engines, otherwise they will collapse rapidly. †¢As usual, globalization is one of the crucial key drivers of automobile industry like every sector. After the globalization, brands start to do partnerships with each other to enter the different markets and they develop new technological innovations more cheap and useful all around the world. †¢In addition to these factors, governments’ regulations are one of the major determinants of global auto industry. The country’s’ legislation about emissions, environment and recycling are the key factors of brands investments. In European Union, the mutual regulations order that emission rate is lower than other regions and as a result of that firms should produce accordingly to these legislations. The Automobile Market †¢The automobile industry has become important after the globalization because people want to travel with more comfortably, safely and rapidly with their cars. Concordantly, while automobile sector is developing in every part of it, the global transportation sector benefit from positively. For instance; Rolls-Royce is producing both plane and car motors and Volvo is producing car and sea boats engines too. So, firms help to enlarge and develop in every transportation tools, not only cars. †¢The automobile industry consists of fuel, tire, and insurance firms. Also, mostly the luxurious brands are working with ranking fashion companies such as; Gucci(Fiat) and Hermes(Bugatti) and sound system companies like as; Bang & Olufsen (Audi, Mercedes, BMW, Aston Martin) and Naim (Bentley). †¢On the other hand, after the globalization, automobile brands start to work together in some regions all around the world. They invest more money on R&D departments and sharing their knowledge to improve all transportation vehicles. †¢Germany, United States, Japan and Korean producers are the bestsellers all around the world. These countries mostly take control all over the world. Such as: Volkswagen is one of the biggest companies in automobile sector and it has got several brands such as; Audi, Lamborghini, Bentley, Bugatti and Seat. Company produces car for every segment. †¢In addition, especially for the last decade, market start to tend to produce more clean motors which do not harm to the environment. Also, they try to produce completely using electricity engines for all vehicles and using solar panels. As a result of that, the concept of climate change cause occurs a new market in automobile sector. Key Country Markets †¢In this chapter of report, I will mention about Japan, United States, Germany and Korean automotive producers because Toyota and Honda from Japan are the best and most well-known brands, Volkswagen from Germany is the head of locomotive in this industry for all parts of it, GM and Ford are the biggest companies from United states and Hyundai, which is becoming more powerful in everyday from Korea. †¢Volkswagen is the second best seller in 2012 after the GM and they are in front of Toyota. Generally, German cars are best vehicles that showed by automobile specialists from all over the word in every segment. Volkswagen, (if we look at the Exhibit 1) has got several different brands like; Lamborghini, Bentley, Audi, Bugatti, Skoda and Seat. They have product range from low-consumption cars to the luxury vehicles, as a result of that they are producing well- quality vehicles. †¢Toyota and Honda are the most favorable brands from Japan against to American and German manufacturers. Toyota Corolla is the world’s best seller mass production model and Toyota has got successful models as like Corolla too. In addition, Honda is one of the biggest and accomplished gasoline engine producers. Also, these two Japan brands are investing their money on hybrid and electric motor more than ever other brands. †¢GM is best seller brand in 2011, they sold approximately ten million cars and they have got various vehicle models. GM has got various brands such as; Chevrolet, Opel, Vauxhall, GMC, Buick and Cadillac. Also Ford is the one of the biggest key driver of the market. †¢Hyundai is one of the most developing auto brands for last decade. They start to produce well engines, comfortable and good looking cars. On the other hand, Hyundai is one of the biggest partnerships of Kia (%49. 2) which is the second biggest brand from Korea. †¢As we can see clearly, these 6 brands from 4 country of the world are the leaders of this sector. Also, they own various brands in their group and they are using this superiority against to the other brands. Sector Trends †¢Brands should produce low-consumption engines and obey emission and governments’ regulations to survive. †¢Nearly all automotive producers are using same technology on their vehicles; they need to work on these researches together to be more beneficial for humanity. For instance; Mercedes-Benz and BMW are sharing R&D departments studies with each other and both of them working together to develop new technologies. †¢People are expecting more useful cars from producers like, they want both athletic and reliable vehicles, as a result of that firms has got new opportunities to create new model segments based on these requirements. †¢Transportation vehicles are developing in every day and automobiles is one of the crucial parts of this situation. Firms are increasing their sales number in every year and they need to satisfy their customers’ requirements in a perfect way. †¢Climate change is one of the determinants of this sector, so firms should pay attention to this issue seriously, they need to obey governments’ regulations and produce new technologies which will be not harmful for nature. †¢Hybrid and electric engines will be the most popular trends in this sector next decades; people would prefer clean engines and low-priced energy, so sector must be improved itself rapidly. Key Success Factor. †¢In this sector there are several success factor which is decided by people and worlds’ requirements; †¢Firms must produce more secure cars because, if we compare transportation systems, motorway is the most dangerous one and, the number of accidents’ proofs it. Brands should work together on security services. For instance; Volvo which is one of the securest brand on the world, claims that after 2020, any people will die in a traffic accident that drive a Volvo. †¢Engines success based on the fuel-efficiency, not harmful for the environment and being long-life. These conditions should be priority for brands R&D departments. †¢Practicality needs to be developing parallel with previous items. People do not want to send various tools in the future; they will only buy contently vehicles. The Future Outlook and Expectations of Automobile Sector †¢People will need cars in the future more than now, producers’ need to satisfy this demand with new technology engines, they should create alternative energy resources which will be not harmful for the environment and firms need to develop safety features to prevent traffic accidents. †¢In the future people need transportation systems because of the longer distances, in every transportation way need to develop it. †¢Brands need to improve driverless vehicles because market will tend in that way. INTRODUCTION AND OVERVIEW The Automotive Industry Overview The automotive industry is one of the crucial sectors for humanity and it has been developing from industrial revolution to now. After the first engine was discovered in 1885 by Karl Benz, engineers found various inventions to make easier of people life. Industry had developed too much nowadays, engineers work on different technological tools and they need to show pay attention many different regulations in today’s world. At the beginning, the most important part was the engine but now automotive industry involves a wide range of business lines such as; manufacture, design, development, marketing and selling motor vehicles, motorcycles. Last year, there were approximately one billion cars which are registered on the world and this number is increasing sharply year by year. Parallel with that, consumes gasoline and diesel fuel multiply with every new car addict to the traffic. On the other hand, this sector employees thousands of people and creates new opportunities to undeveloped countries. In addition to these information’s about automobile sector, we should absolutely mention about the economy of which it creates and process. Currently, mostly the all automotive brands are owned by developed countries and they made their substructure investments all around the world, especially undeveloped countries. After the globalization, firms decide to set-up their factories at low skilled labor force countries. However, this decision affects both sides positively, producer’s limits cost and undeveloped countries’ economies start to develop. According to the OICA (The International Organization of Motor Vehicle Manufacturers that, â€Å"If vehicle manufacturing was a country it would be sixth largest economy in the world. † in 2007. This shows that the contribution of automobile industry to the undeveloped countries’ economies. Also, the industries turnover 2 trillion dollars and if we comparing of this turnover of GDP with other economies in the world, proof that it can compete economic power of Italy, France or the UK. India is one of the greatest examples of the success at their economic improvement. Tata Motors, which Indian automobile brand owned Jaguar and Land Rover last year and they developed it perfectly in 2 years. After these 2 years, Jaguar and Land Rover increased their profitability nearly in half and when we think about these two brands are luxury brands, these numbers are spectacular. On the other hand, firms expanding nearly 85 billion dollars on Research & Development departments. These budgets shaped by customer’s demand, so this sector is one of the innovative ones and it still produce new technologies. However, automobile sector has got unfavorable situations like; economic crises. If we make a research about when firms sales numbers decreased or companies made loss we will realize that on that era, world or the some regions is in economic crises. For instance; last biggest economic crises in 2008, when we look at the production number, it will decrease nearly %12. 7 compare to the previous year. These numbers are same with the other economic crises and automobile sector affect from them firstly. Key Country Markets United States. Todays’ world America is the one of the world’s biggest automotive producer with two brand; GM and Ford. GM has got various sub-brands in itself from different segments. These two brands sell their cars all over the world and both of them are most knowable automobile producers. However, in 2008, worlds’ biggest economic crises occurred GM was nearly bankrupt in an unbelievable way. This means, world would lost one of the old and essential brands, thousands of people would lost their job and American economy got hurt again after the Lehman Brothers. Hopefully; government decided to help GM and they saved the firm quickly. Japan Toyota is the most valuable automobile producer in the world; its net value is 131 billion dollars. Also one of the models, Corolla is the best seller model one the world and it has been sold nearly forty million from 1966 to 2012. In addition to the Toyota, Honda is another successful Japan auto brand too. They have got accomplished sales numbers and firm is producing one of the best gasoline engines. According to the consumers, Toyota could be the best competitor against to the German auto makers. Firm is producing in same quality with Germans but they are selling them cheaper than German brands. This is Toyotas’ major successful strategy also, company uses Japans’ engineering and technology which is the worlds’ best ones. They produced worlds’ first hybrid car and investing a huge part of their money on electric, clean and cheap motors. Germany The locomotive of the industry is Volkswagen right now and it will not change for two or three decades. Only the Volkswagens’ value is 76. 3 billion dollars and company has got several brands like; Audi (28. 5 billion$), Porsche (15.3billion$), Lamborghini, Bentley, Bugatti, Seat and Skoda. This German brand is producing most usable models with low-consumption engines, low prices and the safety of German engineering. Volkswagen is shaping the trends of the industry and other brands are following it right now. Firm has got different models from every consumer group and they make it an opportunity to be successful in the future. Korean Asia’s’ economy is the world’s fastest growing economy in nowadays. They are growing better than Europe and United States, as a result of those brands of this region are developing too. Hyundai is only the one of them; they are creating new models, developing current models and enter new markets. The firm move considerably forward when we compare a decade ago, their substructure and technological systems improver very well, also; they are producing more reliable and comfortable vehicles. This Korean brand will be one of the serious auto brands in the future if they are going in that way. Economic Impact of Automobile Sector The automotive industry has a big impact on every economy, it consist nearly every economy in the world. Every country in the world has got a part from this sector and thousands of people work in this industry. It is really crucial for transportation sector because, firms are using or developing same motors on different transportation vehicles. On the other hand, auto sector has got great impact on countries economy. If a country has got a factory or some service area about this sector, it will include a huge part of country’s’ economy. For instance; America worked really hard to save GM from the 2008 economic crises, they spend too much money because, if GM bankrupted, America’s economy will affect in deeply (if we look at Exhibit 3). Also, Ford decide to sale Aston Martin and Volvo at this era, these two brand had not good sales number and they will be harmful for the company if they do not sale them. Automobile brands have a great impact on country’s economy just like banks, executives should be careful about this issue seriously because it can be affect from economic crises easily so, they need to take a decision in long-term. Market Segmentation The automobile industry has a got long operation process; it has various segments in it. Firstly, R & D department research what people need or what they want from a vehicle. After that, this part start to make prototypes or create stereotypes which engineers and designers can build on these examples. Designers work on cars aerodynamic, shape and how it looks. In addition, engineers work on substructure parts of the car such as; lights, engine, transmission and safety systems. While they are producing this prototype, they do various tests on car and finally they can send it to the dealers. Dealers, order number of cars and they prepare launches to introduce cars to the customers. After the sale of car, the service department starts to interest with car. They call them to the services periodically and customers can visit them anytime they have a problem with their car. Consequently, this industry has got major segment such as; R & D department, designing and crating new technologies, before sale and bring together with market and customers. Finally, service department take care about our cars problem. Five Force Analyses Threats of New Entrants The automobile sector is could be most risky market on the world because you need to much money to invest on it, heritage is really important for customers and this sector is the first sector that affected from economic crises. Otherwise, without any new technology or price policy you will not survive much long and if someone decides to build up an automobile company, he/she will definitely work with local government. On the other hand, if someone wants to get this sector, he/she has got a change with new technological features. For instance; Fisker and Tesla are the new entrants at this sector and they invest their money on clean, hybrid and electrical engines. They also try to design good-looking car with solar panels and other recyclable energies. Bargaining Power of Suppliers In this case bargaining power of suppliers is not really strong. It is not powerful as healthcare sector or another sector because if people do not want to buy a private car, they can choose other transportation ways or the can choose nothing. However, in healthcare sector people absolutely need doctors, hospitals or medicine to survive but it is not same for this sector. In addition, globalization affect make peoples’ life easier and humans are used to it and buying a private car became a priority after purchasing a house. Generally, if a person owns a house, he/she will buy a car with how much money he/she got. This is the strongest part of the sector; unfortunately it has got negatives parts too. Bargaining Power of Buyers These sectors’ trends and demand is shaped by customer’s preferences, so the bargaining power of buyers is really strong. If humans do not like a model, they will not buy it and producers stop to produce it but if they like it producer need to produce it as much as it can to be successful. Right now, the demand on this sector is low-consumption engines and be not harmful to the environment so producers start to produce models and engines in this way, otherwise they cannot be able to sell a car. Availability of Substitutes In automobile industry, the availability of substitutes is not actually but there is only one way to change it is create new substructure concepts in the sector. For instance; Tesla and Fisker do that in a perfect way, they only focus on hybrid and electric engines and people recognize them with these concepts at everywhere. You cannot change industry but you can be able to change its direction. Intensity of Existing Rivalry There are many brands on the market, even in one country own more than one automobile brand, as a result of that the intensity of existing rivalry is really high. As I mentioned before that, there are five leader brands in the market but other big or small brands are successful as like them too. The most important think is the design of the automobile but now it has got no meaning because firms are usually work with same designers and models are not changing too much even in different brands. However, the most competitive concept is price policy according to the government’s tax payments systems. Key Success Factors for Automobile Sector There are different types of key success factor for automobile sector are based on the region, substructure features, purchase power. Producers need to show pay attention to these factors because it will determinate their sales numbers and profitability. The most important factor knows the region very well. I mean dealers and head quarter of the brand should be aware of the consumers’ requirements. Also they need to sale cars which are not be against to the governments’ legislations. For instance; European Union has got sharp and certain laws about carbon dioxide emission, so dealers need to focus on engines which are consuming few. However, United States not sign Kyoto Protocol, so they do not have any legislation for emissions right now, dealers can focus on high mass engines. In addition to the region, substructure features are crucial for auto makers because people always want to buy a car which has got advanced features even they will never use them. However, conscious consumer will demand low-consumption engines and brands need to produce engines according to that demand. In other words, firms need to decide their target audience perfectly and producing substructure features with these conditions. Lastly, the third factor is purchase power. In my opinion, this factor is the most crucial determinant in this sector because every brand starts to produce in same quality vehicles. However they need to know country’s economies and sale their models in that way (if we look at Exhibit 4). For instance; America one of the highest purchase power countries in the world and they really like to own cool, luxurious and spectacular cars, they can buy two three or even more than these number cars. In contrast, European nations have got the same purchase power but they want to buy one or two cars and they are looking to being useful, low consumption and quality vehicles. The Future of Automobile Sector In the future, transportation systems will be developing in all around the world because people want to move from A to B faster, comfortably, safely and cheaply. Producers need to know these requirements and produce car with these features. Firstly, brands need to focus on low-consumption cars, I mean hybrid and electric engines because they are cheaper than current technology and governments provide laws for this situation. Secondly, they need to produce safety cars than now because people will demand on secure system in the future. On the other hand, they need to produce usable cars such as Audis’ All Road, they have been developed for all road conditions and you can use them only in one car. Consequently, people will never forget or reject driving a car but producers need to answer climate, people and governments requirements. If someone produce a car with low price and costs with cover a long distance in a comfortably they will become the most successful brand in the world.